Baxter Bros Inc. Sells 1,990 Shares of Sysco Co. (NYSE:SYY)

Baxter Bros Inc. decreased its position in Sysco Co. (NYSE:SYY) by 5.5% during the third quarter, HoldingsChannel.com reports. The fund owned 33,905 shares of the company’s stock after selling 1,990 shares during the quarter. Baxter Bros Inc.’s holdings in Sysco were worth $2,647,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SYY. Norden Group LLC bought a new stake in Sysco in the 1st quarter worth approximately $434,000. Sequoia Financial Advisors LLC increased its stake in Sysco by 10.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,329 shares of the company’s stock worth $1,488,000 after acquiring an additional 1,797 shares during the last quarter. Mission Wealth Management LP boosted its holdings in shares of Sysco by 28.1% in the 1st quarter. Mission Wealth Management LP now owns 7,128 shares of the company’s stock worth $579,000 after purchasing an additional 1,564 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sysco by 9.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,414 shares of the company’s stock valued at $8,138,000 after purchasing an additional 9,264 shares during the last quarter. Finally, Graypoint LLC purchased a new stake in Sysco during the 1st quarter valued at $272,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Up 0.1 %

Shares of NYSE:SYY opened at $75.03 on Friday. The business’s 50 day moving average is $76.19 and its 200 day moving average is $74.73. The stock has a market cap of $36.86 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. Sysco Co. has a 52-week low of $65.19 and a 52-week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. Sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.